They don't, for example, project how a 35-year-old's savings will grow and how that future nest egg would translate into monthly income. The estimates are based on your current 401(k) balance.

The other is for a 'qualified joint and survivor' annuity, which pays income for an individual and a surviving spouse for life. Annuity guarantees are backed by the financial strength and claims paying ability of the issuing insurance company.There will be two estimates on your statement: One is for a 'single life' annuity, which pays income to an individual buyer for life. An annuity is not insured by the FDIC (like a bank CD, checking account, or savings account).(Source: Insured Retirement Institute and AXA Financial, “Protection, Growth and Income: Helping Consumers Reach Retirement Goals.”) 8 in 10 conservative investors find structured and lifetime income annuities easy to understand.(Source: National Institute on Retirement Security Retirement Insecurity 2021 survey, February 2021.) 54% of Americans agree they would be willing to sacrifice some retirement savings to buy guaranteed monthly income.(Source: Employee Benefit Research Institute 2021 Retirement Confidence Survey, April 2021.) 50% of current workers expect to receive income in retirement from a financial product that guarantees monthly income for life, such as an annuity.Calculators: These online resources show your clients “the numbers” including an income rider calculator, 72(t) calculator, retirement planner, RMD & Stretch IRA Calculator, and savings distribution calculator among others.Annuity Comparison Tool: Leveraging this platform, you can select fixed annuity and indexed annuity carriers to compare multiple products by state availability, issue age, benefits, product, rate term, surrender years and other options.Website/Portal: Supported by AIPMA’s myAIP CRM, wholesalers can customize a website portal to provide secure access to AIPMA’s annuity quote tools and resources.Contact our Business Development Team at (800) 783-5206, Prompt 2 or. AIPMA also provides an experienced Business Development team to discuss product differences, answer questions, and generate illustrations to help you show annuity product options to your clients. Your clients also can take a lump-sum payment or schedule guaranteed payments for a specific length of time for a steady stream of income.Įach client’s situation is different. Without a limit on annual contributions to an annuity, clients can place money into an annuity to defer paying taxes on their contributions until a disbursement is taken. A MYGA also can provide a death-benefit for your clients’ beneficiaries.Īn annuity is the only financial product that can guarantee lifetime income. MYGAs are not insured by the Federal Deposit Insurance Corporation (FDIC) but guaranteed by life insurance companies. Multi-Year Guaranteed Annuity (MYGA): A MYGA works like a bank CD with a guaranteed rate of return for a specific period with tax-deferred earnings.Clients also can make larger contributions without the limitations of similar retirement plans (i.e., 401(k), IRA). Single Premium Immediate Annuity (SPIA): A SPIA skips the accumulation stage and begins paying out income either immediately or within a year after your client purchased the SPIA with a single, lump-sum payment.The FIA’s principal and interest already credited is not subject to loss from market downturns. Fixed Indexed Annuities (FIA): A FIA ties the determination of credited interest to a market index S&P for example.Based on your client needs, AIPMA can direct you toward: Through our annuity carrier relationships, AIP Marketing Alliance supports multiple annuity products for our independent wholesalers and agents.

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